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In football, the summer transfer window means big business and by 12 August 2014, Europe's top 5 countries had spent $1.36 billion on player transfers according to FIFA TMS.

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This is remarkably similar to last year when that number was 1.35 billion by the same date. So far, England is top of the list for 2014 summer transfers with $507 million, up from $455 million last year.

Spain comes second after a massive shopping splurge. Spanish clubs have multiplied their spending more than 3.5 times compared to last year. Money-fuelled moves for superstars has been responsible for this enormous increase. James Rodriguez moved to Real Madrid for an undisclosed fee after the World Cup, reported to be around €80 million while Luis Suarez left Liverpool for Barcelona for around €94 million. France and Italy both experienced big drops of around 64 percent compared to last year.

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